August breaks all time record for Home Sales in Kitchener - Waterloo!

There were a total of 598 home sales in Kitchener-Waterloo and area though the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) in August. This represents a 26.4% increase in sales compared to August of 2015. It also ranks as the most active August on record and 37.6% above the 5-year average for the month.


Year-to-date sales also climbed to new heights with 4,703 residential sales so far in 2016. Again, this is the highest on record for this period and 23.4% above the 5-year average.

Active residential listings continue to remain depressed in comparison to the same time last year. The number of active residential listings on the KWAR’s MLS® System to the end of August sat at 863, which is 46.6% lower compared to same period last year’s 1,616 homes that were on the market. It wasn’t just temperatures heating up in August.  We’re still experiencing tight market conditions in terms of available homes for sale and this continues to push home prices in the Region upward.

August’s sales included 353 single detached homes (up 19.7% compared to August 2015) and 151 condominium type units (up 36.0%) which include any property regardless of style (ie. semis, townhomes, apartment, detached etc). Sales also included 40 Semi-detached homes (up 14.3%) and 49 freehold townhouses (up 69.0%). The average sale price of all residential sales in August increased 15.2% to $402,000 compared to August 2015.

We saw strong residential activity this summer season and with record setting year-to-date sales it’s clear that buyers remain confident about the value of homes in Kitchener-Waterloo. Single detached style homes sold for an average price of $487,050 an increase of 20.9% compared to last year. The average sale price for an apartment style condominium was $233,302, an increase of 7.9%. Townhomes and semis sold for an average of $298,148 (up 10.2%) and $299,353 (up 5.5%) respectively.

Residential Sale Price and Total Units Sold in August over the last 10 years: Units Sold				K-W Only Sales				All Area Sales
K-W Only Sales		All Area Sales		Average Price		Median Price		Average Price		Median Price
2007	491		547		$242,457		$226,000		$247,766		$228,800
2008	398		436		$266,974		$244,000		$269,252		$245,500
2009	471		513		$254,374		$238,500		$258,508		$240,000
2010	361		398		$273,451		$253,000		$280,833		$258,000
2011	358		403		$295,829		$272,000		$301,501		$275,000
2012	352		399		$304,251		$280,000		$316,039		$288,000
2013	376		421		$307,398		$287,750		$317,516		$295,000
2014	429		476		$321,408		$297,000		$326,659		$302,250
2015	420		473		$337,865		$314,500		$348,879		$318,000
2016	535		598		$387,438		$355,100		$402,000		$360,000

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